Recent reports revealed that Kraken, one of the largest cryptocurrency exchanges worldwide, is exploring partnerships to help build a Layer 2 blockchain that would enhance its platform’s capabilities. This sparked the interest of Charles Hoskinson, founder of the advanced blockchain network Cardano.
Hoskinson publicly responded to an article discussing how Kraken is weighing options with leading blockchain developers like Polygon, Matter Labs, and Nil Foundation. He tagged Kraken CEO Jesse Powell in a post stating he would be eager to partner up if Kraken was interested in collaborating.
This potential alliance comes at an active time for Cardano, which has been aggressively expanding its blockchain technology. For example, Cardano recently integrated the non-custodial wallet Nami and announced a strategic partnership with Polkadot to utilize Polkadot’s substrate framework in developing a “partner chain” project.
Meanwhile, enthusiasm around Cardano has lifted the price of its ADA token substantially over the past month, despite a minor pullback in the last 24 hours. Cardano continues cementing itself as a versatile and advanced blockchain network.
Kraken has not indicated if it will ultimately choose Cardano as its partner in developing a Layer 2 solution to boost its exchange. However, Hoskinson’s public invitation demonstrates his eagerness to work together. The capabilities of Cardano’s blockchain technology would likely be an asset as Kraken aims to enhance its platform’s performance. This potential alliance will be something to watch unfold.
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